Answer:
$1800
Step-by-step explanation:
Using the formula for simple interest:
\(A=P(1+rt)\)
Where:
A = Total Accrued Amount (principal + interest)
P = Principal Amount
r = Rate of Interest per year in decimal
t = Time in years
Substituting the values:
A=10000(1+0.06(3))
A=11800
A is the total accrued amount, which means to find the interest paid over the three years, subtract the principal amount. So the interest is 11800-10000=1800
